BCS Wealth Management Acquires Shares of 5,075 Eli Lilly and Company (NYSE:LLY)

BCS Wealth Management bought a new position in Eli Lilly and Company (NYSE:LLY) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,075 shares of the company’s stock, valued at approximately $3,918,000.

A number of other institutional investors have also recently made changes to their positions in the company. Granite Bay Wealth Management LLC bought a new position in Eli Lilly and Company in the 4th quarter valued at approximately $262,000. PFW Advisors LLC purchased a new position in shares of Eli Lilly and Company in the fourth quarter worth $662,000. Catalyst Private Wealth LLC raised its stake in shares of Eli Lilly and Company by 8.7% in the fourth quarter. Catalyst Private Wealth LLC now owns 437 shares of the company’s stock worth $337,000 after purchasing an additional 35 shares during the last quarter. Parisi Gray Wealth Management lifted its holdings in shares of Eli Lilly and Company by 1.2% during the fourth quarter. Parisi Gray Wealth Management now owns 5,671 shares of the company’s stock valued at $4,378,000 after purchasing an additional 65 shares in the last quarter. Finally, Pallas Capital Advisors LLC boosted its position in shares of Eli Lilly and Company by 2.8% during the fourth quarter. Pallas Capital Advisors LLC now owns 17,149 shares of the company’s stock valued at $13,239,000 after buying an additional 463 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

LLY has been the topic of several research analyst reports. Truist Financial upped their target price on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a report on Monday, September 16th. Barclays decreased their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, January 1st. Finally, Bank of America reiterated a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,002.22.

Eli Lilly and Company Trading Down 0.3 %

Shares of LLY stock opened at $797.17 on Tuesday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The stock has a fifty day simple moving average of $785.91 and a two-hundred day simple moving average of $858.62. The firm has a market capitalization of $756.77 billion, a PE ratio of 86.18, a PEG ratio of 2.99 and a beta of 0.41. Eli Lilly and Company has a 52-week low of $612.70 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter in the prior year, the business posted $0.10 EPS. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, analysts predict that Eli Lilly and Company will post 13.18 EPS for the current fiscal year.

Eli Lilly and Company declared that its Board of Directors has approved a share repurchase plan on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to repurchase up to 2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.50 per share. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.75%. Eli Lilly and Company’s dividend payout ratio is currently 64.86%.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.